Friday, June 16, 2006
Global military spending has reached a new record high of over $1.1 trillion dollars. The United States accounts for nearly half of that total. According to the report by the Stockholm International Peace Research Institute, the United States spent $1,600 on its military for every American. Meanwhile, China spent just $31 per person. India spent less than $19 per person. The study also determined that military spending is actually decreasing in Europe, with the biggest cuts recorded in England and Spain.